Key to 2021: Efficient Use of Your Credit Union’s Marketing Dollars

Signs of the Times for Credit Unions

Sarah. Cooke, Monday, February 8

Marketing is not going back to the way it was after the year credit unions – and the world – just experienced. Priorities, methods and budgets now reflect the changes brought about by the global pandemic, and credit union marketing teams have had to adjust their approach to reach potential and existing members in a digitally focused world. These changes present new opportunities to connect with consumers like never before. Now is the time to create a new, multi-channel marketing strategy that reaches the consumers where they are.

While other industries have been increasing their use and creation of digital content marketing, credit unions have been slower to consider and/or adapt this strategy. According to an article from CUInsight, although 93% of marketers across industries report that they have at least thought about an integrated content strategy, over 50% of financial marketers say that it’s not really on their radar.

Not-so-digital methods haven’t gone out of style. Direct mail is still an effective marketing tool despite how old fashioned it may seem – or because of it. According to a report from smallbizgenius, 4 in 10 American of all ages look forward to checking their mailbox. In addition, 42.2% of direct mail recipients either read or scan the mail they get, and on average, mail in the average American household gets thrown out after 17 days.

Both digital and physical marketing methods have staying power, but does your credit union know how to reach consumers where they are at the right time while making the most of your marketing dollars? That’s where Fetch Marketing can help! Fetch Marketing uses credit data to get the insights needed to ensure your credit union’s loan marketing gets the attention it deserves from potential and existing members. Fetch Marketing achieves this in a couple of ways:

Prescreen Marketing Campaigns: Predictive Marketing looks at a potential lender’s creditworthiness through its sophisticated credit prescreen processes to identify consumers more likely to accept refinancing offers or for whom the time is right to replace their vehicle with a newer model.

Trigger Campaigns: Monitor daily your members and potential members’ credit to see who’s looking for a loan and deliver targeted calls and emails on your credit union’s behalf.

If your credit union is looking for a marketing boost, learn more about Ser Tech’s Fetch Marketing from our experts today!